Freddie Mac Probe May Focus
Much of Blame on Ex-President

By

John D. McKinnon Staff Reporter of The Wall Street Journal

Updated July 23, 2003 9:49 a.m. ET

WASHINGTON -- An internal investigation of accounting problems at Freddie Mac is likely to focus much of the blame on the mortgage company's longtime president while seeking to absolve other officials of any significant wrongdoing, according to two people familiar with its findings.

The report by former Securities and Exchange Commission lawyer James Doty is expected to be released this morning and discussed by Freddie Mac officials...